The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-12-31
THE STATE OF BUSINESS.
r. @. DUN 81 CO.'S WEEKLY BE-
VIEW OF TRADE.
A Year OF Enormous Business Closes
with Little More Than Seasonable
Duilness - Holiday Trade Generally
Large-The Years Failures.

New YORK, Dec. 30.--R. G.. Dun K Co.,
in their weekly review Of trade, say: 'The
year of enormous business closed with q
little more than the seasonable dullness.
Transactions much beyond the average in
September and October prepared for some
slackening OF trade in November and De-
ccmber. which has been increased by tariff
uncertainties, by several strikes Of impor-
lance and by a speculative advance In
prices Unusual pressure for money dur
ing the fall, on the other hand, caused nd
justmcnts which prevent severe pressure
as the year closes, and except few west
crn points the money markets are compar-
atively easy with collections almost every
where fair, and at most points reasonably
good.
Holiday trade has generally been large,
and the recent change in weather brings
greater activity in some branches. Butthe
pending strikes and controversies about
wages and uncertainty ~ 10 the future In
some Of the largest industries operate UNI
iavorably. Ease of money and belief that
the Reading strike would not last,
have helped stocks TO improve
with some reaction. Hopes Of activity
and advance after New Years sustain
prices, but the great movement Of foreign
capital htherward for investment has
ceased, nj least for the time. In Novem-
Der trade statistics indicate that the out
going slightly exceeded the incominggoods
and capital December exports at New
| York, IL per cent below last years,
| nal. A u
cate that ut least Sl7, 900 900 In goods and
cash has probably gone abroad, and for
egn sales have exceeded purchases OF Sc
cunties. ii continued this movement will
affect the placing OF securities for new
roads, and thus influence great industries.
| The diving year has seen l2,724 miles Of
railway finished, making the mileage for
the United States 100, 40, but changes OF
freight rates at the west tend steadily
downward, lcsscning the prospect for
building next year The Pennsylvania re-
ports q decrease Of $4,000 in net earnings
Tor November, and the Erie decrease OF
S2l,233
"Thc iron industry, after the largest
years output on record, IL rapidly cutting
down production. prices, and, at many
points, wages Since March the average
VI all grades Mt Philadelphia has declined
~ ~, and OF rails %. Sales Of 1000 tons
Alabama and Tennessee iron are reported,
but no sales OF rails, for which next year 4
orders cover only 100000 tons. The West.
crn Nail association lowers card rates from
~ - to 81. The cotton industry records
Tor the year larger productions, sales and
profits than for 1880, and the year closes
with nn excellent demand, stocks well
cleaned up. aud many makes sold well
ahead But the wooden manufacture h
described IA having about the most un'
satisfactory year il has ever experienced
with business smaller aud profits SMALLER
than last years. Enormous importation'
have left large stock Of dress goods OF
hand: overcoatngs are moving fairly, bu
fine goods mt D 10 10 per cent. decline
Coal production has been the largest OF
! record, but the market cases with som,
|, excitement, the Ichigh strike continuing
while dispatches affirm that ReadinI
miners will strike January |. The grocer!
iradn has been very large for the year, ans
, closes with fair activity, notwithstanding
the speculation In coffee, and the rise II
, sugar following reports 81 decrease q
' ~. 900 tons in beet product. Provision
hold the recent advance. beci is again
' shade dcarcr. and there has been u rise o
u cents Ia oil.
"Co,ion. In spite Of small receipts Is
shade lower, but brcadstuiis have risen
wheat aud corn about cent each.
" The treasury has added S5li,0OO 10 u
y deposits with banks and ~ ,GOO, 900 Ia IN
: circulation during the week. II has mo-
: increased the circulation IN coin and pap,
y about 80. OOO, 600 since July last, and $50
y ON. 90 since July l, 1855. The incomplel
a rcturns oi clearing house exchanges ind
!, cate an aggregate for the year cxccc'lir
81, 900, OOO. 600, with gain oi about 4 n
!. cent. over last year, but November Shove
q small decrease, and in December the Il,
~ crease has been considerable.
~ The years failures show decrease {
~ 600 In number, but large increase Of SSl
" OOO, ZOO IN Liabilities, ~ follows For ISIS
!" number, 1884; liabilities, Sl67, jGOgi
y average, Sl7,32. For 1857. number, 9.3s
liabilities, Slli,6il, llg, average. 81 ,6jl.
- "Thc returns for the Dominion Of Canal
/" show ~ iailupE. VITA slG. 3ll, 7i5 liabi
= tiles: average, 81 ,S03. The failures In n
Dominion wcrc one In every hiiyiour pc
n sons in business IN the United states the
!. average one In every III persons.